Alex Sunnarborg of Tetras Capital says that Bitcoin has bottomed out yet. The hedge fund manager also believes that the cryptocurrency industry needs a comprehensive cleanup to remove ‘bad actors’ and enhance mainstream investor confidence in the fledgling market.
Bitcoin Price Yet to Bottom Out
Since falling from an all-time high of $19,700 in mid-December 2017, to $6,000 at the start of February 2018, establishing a long-term bottom for Bitcoin price continues to be a prominent topic of discussion. For Sunnarborg, BTC isn’t quite there yet.
Speaking to Forbes’ Jeff Kauflin, the Tetras Capital managing partner commented on the question of Bitcoin bottoming out, saying:
I don’t think so, and I think calling that is very difficult […] One way to think about the bottom is that it happens when all the bad news gets washed…